Zahid: NGCC underscores Malaysia's commitment to global competitiveness
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the rural and regional development minister, said he views the challenges faced by rural communities due to global trade uncertainties seriously.
"Many rural residents indirectly depend on the electrical and electronics, palm oil, rubber, and agricultural sectors, with the United States (US) being one of our key export markets.
"Therefore, I believe the government's efforts to not only negotiate tariff reductions but also establish new markets in Asean, the Middle East, Egypt, Pakistan, and Cambodia are crucial in protecting the incomes and livelihoods of those affected," he said in a Facebook post today.
Ahmad Zahid said he supported the measures announced by Prime Minister Datuk Seri Anwar Ibrahim during the Special Parliamentary Session to address the impact of the US' reciprocal tariffs on Malaysia.
He also expressed his appreciation for the government's swift move in allocating RM1 billion to upgrade the Sabah and Sarawak-Kalimantan border areas.
Ahmad Zahid said Malaysia continues to be a trusted leader in the global halal industry, with exports expected to reach RM61.79 billion in 2024 – a 15 per cent increase from the previous year – maintaining its top ranking in the Global Islamic Economy Index for ten consecutive years.
However, he noted that the global economic slowdown due to the US tariff policies is expected to reduce international demand for various export products, including halal goods, thereby putting pressure on local industry players.
Nonetheless, he said current efforts to explore new markets, particularly in the Gulf Cooperation Council and South Asia, through business matching and participation in international expos are key to driving export growth, opening new opportunities for local entrepreneurs, and strengthening Malaysia's position as a global halal hub.
Ahmad Zahid said the Rural and Regional Development Ministry, together with the Malaysia External Trade Development Corporation (Matrade) and the Halal Development Corporation, will continue to ensure that halal entrepreneurs, particularly those in rural areas, continue to penetrate international markets.
– Bernama
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